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The $382 million merger, expected to close EoY, will boost Cult Beauty’s international footprint.
August 4, 2021
By: TOM BRANNA
Editor
The Hut Group (THG), a British e-commerce company, acquired online UK-based beauty retailer Cult Beauty (CB). The $382.91 million deal calls for keeping CB’s separate branding and identity while using THG’s infrastructure to promote international expansion for the retailer. Currently, less than half of CB’s sales are from abroad. CB, which stocks north of 300 brands from Charlotte Tilbury to Drunk Elephant and cultivates 1.7 million shoppers, is what THG Chief Executive Officer Matthew Mould...
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